Wall Street Zen Downgrades Kymera Therapeutics (NASDAQ:KYMR) to Sell

Wall Street Zen cut shares of Kymera Therapeutics (NASDAQ:KYMR) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also commented on KYMR. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target (up previously from $54.00) on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Kymera Therapeutics in a report on Tuesday, June 3rd. JPMorgan Chase & Co. increased their price objective on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. Oppenheimer reiterated an “outperform” rating and set a $53.00 price objective (down from $56.00) on shares of Kymera Therapeutics in a report on Friday, June 27th. Finally, Bank of America upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $59.11.

Kymera Therapeutics Trading Up 2.3%

NASDAQ:KYMR opened at $43.62 on Friday. Kymera Therapeutics has a 1-year low of $19.44 and a 1-year high of $53.27. The business’s 50-day moving average price is $44.57 and its two-hundred day moving average price is $36.47. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -12.57 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The business had revenue of $11.48 million for the quarter, compared to analyst estimates of $17.37 million. Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%. The company’s revenue for the quarter was down 55.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.58) EPS. Sell-side analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In related news, Director Bvf Partners L. P/Il purchased 317,167 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the purchase, the director directly owned 2,798,795 shares in the company, valued at $123,146,980. This trade represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer owned 660,482 shares of the company’s stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,349 shares of company stock valued at $2,334,301. 16.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $218,000. Tower Research Capital LLC TRC boosted its stake in shares of Kymera Therapeutics by 111.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,425 shares of the company’s stock worth $237,000 after acquiring an additional 2,858 shares during the period. Vident Advisory LLC bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $376,000. Oxford Asset Management LLP bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $201,000. Finally, Octagon Capital Advisors LP bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $11,608,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.